TXO Partners, L.P. (NYSE:TXO - Get Free Report) shares saw strong trading volume on Tuesday . 676,218 shares changed hands during trading, an increase of 382% from the previous session's volume of 140,363 shares.The stock last traded at $15.68 and had previously closed at $15.48.
Analyst Ratings Changes
Separately, Stifel Nicolaus started coverage on shares of TXO Partners in a research report on Wednesday, April 23rd. They set a "buy" rating and a $20.00 price objective for the company.
Read Our Latest Stock Report on TXO Partners
TXO Partners Trading Up 1.2%
The business's fifty day moving average is $16.06 and its 200 day moving average is $17.80. The stock has a market cap of $647.82 million, a PE ratio of -2.64 and a beta of 0.08. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.
TXO Partners (NYSE:TXO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). The company had revenue of $84.33 million for the quarter, compared to analysts' expectations of $82.00 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. As a group, analysts predict that TXO Partners, L.P. will post 1.02 earnings per share for the current year.
TXO Partners Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 15.58%. The ex-dividend date of this dividend was Friday, May 16th. TXO Partners's dividend payout ratio (DPR) is presently 580.95%.
Insider Activity at TXO Partners
In other TXO Partners news, CEO Gary D. Simpson sold 31,517 shares of TXO Partners stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $19.08, for a total value of $601,344.36. Following the transaction, the chief executive officer now directly owns 408,053 shares of the company's stock, valued at $7,785,651.24. The trade was a 7.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Phillip R. Kevil bought 3,000 shares of TXO Partners stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $15.18 per share, with a total value of $45,540.00. Following the purchase, the director now owns 27,384 shares of the company's stock, valued at $415,689.12. This trade represents a 12.30% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,473,000 shares of company stock worth $52,095,540 in the last ninety days.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. boosted its stake in TXO Partners by 0.3% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company's stock valued at $4,915,000 after acquiring an additional 821 shares during the last quarter. Total Wealth Planning & Management Inc. increased its holdings in shares of TXO Partners by 3.6% during the 1st quarter. Total Wealth Planning & Management Inc. now owns 93,334 shares of the company's stock worth $1,788,000 after acquiring an additional 3,274 shares during the last quarter. CWM LLC acquired a new stake in TXO Partners during the first quarter worth approximately $77,000. Sei Investments Co. grew its stake in shares of TXO Partners by 4.2% in the fourth quarter. Sei Investments Co. now owns 123,094 shares of the company's stock valued at $2,073,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of TXO Partners by 11.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company's stock valued at $1,063,000 after acquiring an additional 5,500 shares during the period. 27.44% of the stock is currently owned by institutional investors and hedge funds.
TXO Partners Company Profile
(
Get Free Report)
TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.
Further Reading
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